MEMPHIS, TENN. — HFF has brokered the $50 million sale of Memphis Depot, a 43-building industrial portfolio located one mile from Memphis International Airport. Adam Herrin, Stephen Bailey and Jason Nettles of HFF arranged the transaction on behalf of the seller, Mayfield Properties LP. Brian Carlton, David Wheless and Nielsen Keopfgen of HFF arranged a seven-year, $32.5 million acquisition loan through Allegiant Real Estate Capital on behalf of the buyer, a partnership between Diamond Properties and funds managed by Ares Management LP. The industrial property was originally constructed in 1942 as a military supply base for use in World War II. The military used the buildings until 1997, when it was redeveloped into an industrial park by the City of Memphis and Shelby County. The portfolio is 91 percent leased and totals 4.2 million square feet of distribution and warehouse facilities. The buildings are divided into three groups: North Park, which includes 25 buildings with clear heights ranging from 14 to 16 feet; South Park, which comprises 14 buildings with an average clear height of 20 feet; and Interior Park, which includes four buildings with an average clear height of 25 feet.
LAKELAND, FLA. — Dallas-based developer Xebec has acquired 60 acres in the Central Florida community of Lakeland with plans to develop a $39.3 million regional bulk logistics facility. The 533,000-square-foot building will be designed to meet demand from retailers, distributors and third-party logistics providers. Users will be able to reach 19 million consumers within a 200-mile radius of the project and be within an hour drive from three international airports. The facility will feature 40-foot clear heights, a 185-foot truck court with 114 docks, 367 car parking spaces and 102 container parking spaces. Xebec plans to break ground on the building in the fourth quarter, and wrap up construction in the third quarter of 2019.
HANAHAN, S.C. — Stockbridge Capital Group has acquired a newly constructed industrial facility in the north Charleston suburb of Hanahan for $30.5 million. The 350,856-square-foot facility is located at 1025 N. Pointe Industrial Road, five miles from the Port of Charleston’s North Charleston terminal and nine miles from Charleston International Airport. The building features an ESFR sprinkler system, 32-foot clear heights, LED lighting, 180-foot truck courts and on-site trailer storage. The facility is fully leased to AmerCare and ManTech International. Chris Norvell and Patrick Nally of HFF arranged the transaction on behalf of the seller, SunCap Property Group and WestRock, which developed the facility in 2016.
JACKSON TOWNSHIP, OHIO — Industrial Commercial Properties LLC has begun development of a new headquarters and distribution center for ComDoc in Jackson Township, about 12 miles south of Akron. ComDoc is a subsidiary of Global Imaging Systems, a Xerox company. The 107,500-square-foot facility will be located on 12 acres on Pittsburg Avenue. The property will feature 32,500 square feet of office space and 75,000 square feet of distribution space. ComDoc plans to consolidate four northeast Ohio facilities at the new headquarters, which is slated for completion in the spring of 2019. M.E. Osborne Building Co. is the general contractor for the project.
GRAHAM, TEXAS — Henry S. Miller Brokerage Co. (HSM) has arranged the sale of two industrial assets totaling 231,530 square feet in Graham, about 90 miles west of Fort Worth. Scott Axelrod of HSM represented Tampa-based packaging producer Jordan Industries in the purchase of a 125,810-square-foot building from Dallas-based Mercer Graham Properties LLC. Axelrod also represented a private investor in the sale of a 105,720-square-foot building to Traylor Investments Cliff LLC. The sales prices were not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $6.6 million sale of 621 West 55th St., a two-story warehouse on the west side of Manhattan. John J. Stewart, James O’Leary and Nicholas Biedron of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was also a private investor. The 5,966-square-foot property measures 30 feet by 100 feet and is located less than a block from the West Side Highway.
HOUSTON — The LeClaire Group, a division of Marcus & Millichap, has brokered the sale of Ammex Mini Storage, a 353-unit self-storage facility in Houston. The property totals 48,810 square feet and includes climate- and non-climate-controlled units. Dave Knobler and Charles LeClaire of The LeClaire Group represented the undisclosed seller in the transaction and procured the buyer, an out-of-state investment firm.
DALLAS — Dallas-based HFF has arranged $67 million in post-acquisition financing for a four-building industrial portfolio located in metro Charlotte and Orlando, as well as Memphis. Kristian Lichtenfels, Eric Tupler and Rebecca VanReken of HFF arranged the nine-year, fixed-rate loan through an insurance company on behalf of the borrower, Dream Industrial US Holdings Inc., a subsidiary of Dream Industrial Real Estate Investment Trust, a Canadian REIT. The company acquired the assets n December 2017 and January 2018. The portfolio includes the 885,000-square-foot Delta Point at 5605 Holmescrest Land and the 500,000-square-foot Shelby V at 4770 Southpoint Drive, both in Memphis; a 471,744-square-foot facility located at 860 Marine Drive in Rock Hill, a South Carolina suburb of Charlotte; and a 193,133-square-foot building located at 7730 American Way in Groveland, Fla., roughly 30 miles west of Orlando. The portfolio is fully leased to a total of six tenants and features clear heights ranging from 25 to 32 feet, a total of 247 dock-high doors and 18 drive-in doors.
LAS VEGAS — MCA Realty has purchased a five-building industrial property located at 4610-4650 Arville St. in Las Vegas. A private seller sold the asset for an undisclosed price in an off-market transaction. The value-add asset features 83,750 square feet of industrial space. MCA Realty plans to replace the roofs, repaint the building’s exterior, improve the landscaping and signage, and update the interior units as leases end. At the time of sale the property was 100 percent occupied. Rob Lujan, Jason Simon and Xavier Wasiak of JLL represented the buyer in the deal.
MAPLE GROVE, MINN. — CBRE has arranged the sale of Five Star Commerce Center in Maple Grove, about 15 miles northwest of Minneapolis. The 163,012-square-foot industrial property is comprised of three buildings. Constructed in 1999, the property is fully occupied. Major tenants include Next Day Automation, Dance Complex, TruGreen and Brush Masters Inc. Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz of CBRE represented the seller, Interstate Partners. Sterling Office and Industrial Properties LLC, a North Dakota-based REIT, acquired the asset.